BVI Medical today announced it completed a $1 billion strategic capital raise in partnership with asset management firm TPG.
The investment fully refinances BVI’s existing debt and adds equity from TPG and new investors as the ophthalmic company looks to accelerate product development and expand its global footprint.
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“This investment marks a pivotal moment for BVI as we scale our capabilities to meet the rising demand for advanced ophthalmic solutions,” said President and CEO Shervin Korangy. “We are redefining the future of eye surgery and changing the competitive landscape by driving the launch of breakthrough technologies that will empower surgeons worldwide.”
BVI’s financing follows a series of positive news from the company. Most recently, it expanded its intraocular lens (IOL) manufacturing in Europe to meet growing demands. It also launched its Serenity and Serenity Toric premium monofocal IOLs and made strategic acquisitions.
“TPG is proud to continue our partnership with BVI as it works to scale its global impact in ophthalmic care,” said Kendall Garrison, Partner at TPG. “The company has strengthened its market position while advancing patient care worldwide and this investment will further drive innovation and expansion. We look forward to supporting BVI’s continued success,” said John Schilling, co-managing partner at TPG Capital.
